GKN owner delays payout to shareholders, blaming ‘unquantifiable’ Russian invasion
GKN owner Melrose Industries has decided to delay a payout to shareholders because of the "uncertain and unquantifiable" impact of Russia's invasion of Ukraine.
The manufacturing group sold around one-fifth of the businesses in 2021, including Brush, the last business it still owned from its acquisition of FKI, and three of the four businesses from the Nortek acquisition.
Melrose's "buy, improve, sell" model is usually to return proceeds from disposals and it did make a £729m return of capital to shareholders in September last ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
